🚨 Web3 Watch: Unpacking Today’s Hottest Trends in Crypto & Blockchain

📰 News

📢 Fed Jerome Powell Speech Today: Bitcoin, Ether ETF Data Signals Selloff Sentiment

Crypto Market Braces for US Fed Chair Jerome Powell Speech Today

Global stock and crypto markets are waiting for Fed Chair Jerome Powell’s speech, as the recent speeches by Fed officials indicated divided opinions on further rate cuts. Newly appointed Fed Governor Stephen Miran is the only one favoring a 50 bps cut.

During his FOMC press conference, the Fed Chair said they are in no rush to cut interest rates more quickly and claimed that they were right to wait until now to resume Fed rate cuts. The Fed expects to lower rates by another 50 bps by the end of 2025, and a quarter point in 2026.

Notably, a rise in the US dollar and treasury yields prompted investors to turn more cautious. At the time of writing, the U.S. Dollar Index (DXY) was 97.40, holding firm ahead of Jerome Powell speech and PCE inflation data this week. The U.S. 10-year Treasury yield holds near 4.15%, after rising quickly for the last few sessions.

Meanwhile, JPMorgan CEO Jamie Dimon warned that the Fed will not cut rates unless inflation drops. This triggered a negative sentiment among investors as the JPMorgan CEO hinted at a weakening U.S. economy.

🏛 SEC To Introduce ‘Innovation Exemption’ Rules to Ease Crypto Product Launches

SEC Chair Announces Proposed Innovation Exemption Rules For Crypto Firms

According to a Bloomberg report, SEC Chair Paul Atkins said that he wants a new “innovation exemption” by the end of the year to let crypto firms immediately launch products. He also revealed that they would be working to draft new rules for the crypto industry in the coming months.

This development comes ahead of the SEC-CFTC roundtable, which will take place on September 29. Both parties plan to harmonize their regulatory frameworks for the industry.

It is worth mentioning that the SEC chair had previously floated the idea of this innovative exemption during the launch of ‘Project Crypto’ in July earlier this year. Back then, he admitted that some current regulations do not accommodate crypto innovations and that he had asked the SEC staff to explore creating exemptions for crypto firms seeking to launch novel products.

This may include the launch of the ‘super app’, which Atkins has previously mentioned, a platform that enables the trading of multiple assets, including stocks and cryptocurrencies.

Meanwhile, the SEC had released its rule list for Spring 2025 earlier this month, which included plans to propose rules that relate to the offer and sale of crypto assets, potentially including certain exemptions and safe harbors.

During his interview, Paul Atkins further explained that they are trying to provide the marketplace with a stable platform upon which to introduce their products. The SEC Chair is also seeking to increase the number of initial public offerings (IPOs) in the U.S., some of which could eventually include crypto firms.

📊 Market

🔥 XRP Price Rises on mXRP Launch, Recovery Ahead?

XRP Price Builds Strength For Possible Rally Toward $5

The current XRP market value trades at $2.86, maintaining strength above the key $2.70 support level. This base has already been tested multiple times, showing resilience against renewed selling pressure.

Holding this line gives buyers the chance to extend toward the first ceiling near $3.19. A move beyond that opens the door toward $3.64, where earlier rallies struggled to advance.

Clearing both zones would shift focus toward the psychological $5 mark that remains a major objective. The structure closely mirrors a bullish pennant flag that previously triggered a rally of nearly 90% once the breakout was confirmed.

If the same pattern plays out, XRP could see a comparable move from its current zone, placing the next target well above the $5 threshold. Failure to hold $2.70, however, would open the risk of testing deeper levels before any rebound.

Yet, the repeated defense of this base strengthens the argument for a bullish continuation rather than a reversal. With each successful retest, the formation edges closer to a decisive breakout that could replicate the prior rally’s scale.

🐋 Shiba Inu Price Eyes 25% Rally as Outflows Jump and Whales Buy 62B Coins

Shiba Inu Price Technical Analysis Points to a Rebound

The daily timeframe chart reveals that the Shiba Inu price has plunged to an important support level. It dropped to a low of $0.00001178, a level it has failed to move below a few times since August this year.

On the positive side, this price action means that the coin has formed a triple-bottom pattern, whose neckline is at $0.00001481. This neckline coincides with the ultimate resistance level of the Murrey Math Lines.

Therefore, the Shiba Inu Coin price will likely have a 25% bullish breakout to the neckline at $0.00001480.

However, the SHIB price forecast 2025 will become invalidated if it crashes below the triple-bottom at $0.00001178. Such a move will confirm that the coin has formed a descending triangle pattern, which often leads to more downside.